PEPE Coin Stages a Strong Comeback, Targets 65% Rally Toward $0.000021
Pepe Coin is making headlines after rallying over 40%, with bulls setting sights on the $0.000021 mark—a move that represents an additional 65% upside from current levels.
As the total crypto market cap hits $3.28 trillion, meme coins are once again leading the charge.
- Among them, PEPE has surged to $0.000014, marking a dramatic turnaround and re-igniting investor optimism.
- This performance has put PEPE in the spotlight, as technical indicators now suggest further gains.
PEPE Price Analysis Signals Bullish Momentum
PEPE has posted two significant bullish daily candles, signaling a strong reversal pattern on its chart.
- On May 8, PEPE jumped nearly 35%, followed by another 20% intraday spike, confirming a sustained momentum shift.
- These price actions have pushed PEPE past the 38.20% Fibonacci retracement level at $0.0000133.
At its 24-hour high of $0.000013933, PEPE approached the key $0.000014 resistance zone.
- The next hurdle lies at the 50% Fibonacci level of $0.00001584, which represents the next short-term upside target.
- Beyond that, the 78.60% Fibonacci level at $0.000021 marks the projected breakout goal.
Technical indicators reinforce this outlook:
- The MACD and signal lines have completed a bullish crossover, indicating growing buying pressure.
- The supertrend indicator has also turned positive, adding further weight to the ongoing bullish trend.
If momentum holds, PEPE could see a 65% rise from current levels.
- However, a drop below the $0.000010 psychological support, near the 23.60% Fibonacci level, would invalidate the bullish setup.
- In that case, the price could retrace toward $0.000008832, its next major support.
Derivatives Market Fuels PEPE Rally
Increased leverage activity in the derivatives space is amplifying PEPE’s breakout potential.
- According to Coinglass, open interest (OI) in PEPE has soared by nearly 40%, now standing at $633 million.
- The funding rate has risen to 0.0105%, reflecting increased demand from bullish traders.
This spike in OI signals growing trader confidence in further upside movement.
- At the same time, short liquidations have totaled almost $13 million in the past 24 hours, suggesting bearish traders are being squeezed.
- Such liquidations often lead to accelerated price movements as positions are forcibly closed.
With bulls dominating the derivatives market, a leverage-driven rally could support a swift move toward the $0.000021 resistance.
Final Thoughts
With strong technical indicators, increased derivatives activity, and an energized community, PEPE appears set for a potential 65% breakout in the near term.
Disclaimer: This content is for informational purposes only and does not constitute financial advice. Readers are advised to perform their own due diligence before making investment decisions.
